Thursday, August 1, 2013

Bought SPY Call after it broke out of the small handle

The SPY formed a double bottom with a handle in the last couple of months. Today it broke above the handle. So I bought some SPY calls for a position trade. The stop price is around $166. I'll watch for market condition and Delta rises to exit if market continue to go up.

I also exited most of my option income portfolio for August and will post it in the next couple of days.

Created with ProphetCharts®

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